Stuttgart – Phone-as-a-service provider everphone has raised USD 200 million in growth capital. The round of financing was led by Cadence Growth Capital (CGC), the fastest growing growth PE fund in the German-speaking countries. Other investors included the Telekom Innovation Pool, while lenders led by Deutsche Bank are providing loans. Everphone plans to use the funding to drive its growth and expand its existing business internationally.
A CMS team led by Dr Florian Plagemann (Co-Lead) and Dr Tobias Schneider advised CGC on all aspects of the contract negotiations and legal due diligence. The growth private equity fund regularly relies on CMS’s expertise, most recently with regard to its investment in IoT commerce platform tink.
CGC is a growth PE fund with a focus on Germany, Austria and Switzerland. It specialises in partnerships with high-calibre companies with strong organic and inorganic growth prospects. CGC invests capital on behalf of over 150 HNWIs from the M&A, PE, corporate and start-up communities, as well as selected institutional investors. In addition to everphone, CGC also holds a stake in several other technology-driven growth companies, such as Sherpany, tink, Mitos, Moonfare and PlusDental.
Berlin-based everphone was established in 2016 and leases business smartphones and other devices to corporate customers. The company provides a full service. Alongside supplying and refurbishing devices, it also covers related services such as administration, configuration, integration and maintenance. According to its own figures, more than 600 B2B customers use the firm’s services.
CMS Germany
Dr Tobias Schneider, Lead Partner, Stuttgart, Corporate/Private Equity
Dr Florian Plagemann, Counsel (Co-Lead), Frankfurt/Main, Corporate/Venture Capital
Dr Maximilian Eitelbuß, Associate, Stuttgart, Corporate/Private Equity
Dr Marc Seibold, Partner, Stuttgart
Anne Waßmuth, Senior Associate, Stuttgart, both Finance
Dr Ulrich Becker, Partner, Frankfurt/Main
Sinje Maier, Senior Associate, Frankfurt/Main, both Commercial
Dr Boris Alles, Counsel, Frankfurt/Main, Labor, Employment & Pensions
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